By Staff Reporter
KARACHI: Pakistan’s current account balance turned negative in January, as a surge in imports outweighed a modest increase in remittances and a slight decline in exports, central bank data showed on Monday.
Macro
Fitch warns of default risk as political chaos clouds IMF loan talks
By Staff Reporter
KARACHI: Pakistan faces a daunting task to secure a new loan from the International Monetary Fund as it grapples with political turmoil after a close election, Fitch Ratings warned on Monday.
Pakistan’s dollar bonds drop most in 16 months as hung parliament looms
By Staff Reporter
KARACHI: Pakistan’s dollar bonds fell on Friday as the country awaited the outcome of a closely contested general election, with early results showing a tight race between the main political parties.
Ex-central banker Baqir warns of debt crisis, urges new IMF deal
By Staff Reporter
KARACHI: Former central bank chief Reza Baqir said on Thursday that the new government that emerges from the ongoing elections will face tough economic challenges and will need to negotiate a new deal with the International Monetary Fund (IMF) to avoid a debt crisis.
Election outcome to shape Pakistan’s credit outlook, S&P says
By Staff Reporter
ISLAMABAD: Pakistan’s hopes of securing higher credit ratings hinge on whether this week’s election produces a government that can push through tough reforms and secure more financing from the International Monetary Fund, S&P Global Ratings said.
Election watchdog blocks PIA privatization ahead of polls
By Staff Reporter
ISLAMABAD: The election watchdog has halted the sale of the loss-making national carrier Pakistan International Airlines (PIA), saying the legally restricted caretaker government cannot take such a major policy decision ahead of a general election next week.
Inflation dips marginally in January, but remains well above central bank’s range
By Staff Reporter
ISLAMABAD: Pakistan’s annual consumer price inflation eased slightly to 28.3 percent in January, the Pakistan Bureau of Statistics (PBS) said on Thursday, but remained well above the central bank’s target range of 23-25 percent for the fiscal year ending in June.
January inflation to ease slightly but stay above target: ministry
By Staff Reporter
ISLAMABAD: Pakistan’s headline inflation is expected to ease slightly in the next two months after hitting a near 30 percent in December, but will remain well above the central bank’s target range, the finance ministry said on Wednesday.
Debt costs wipe out Pakistan’s revenue, widen deficit in first half
By Staff Reporter
ISLAMABAD: Pakistan’s debt servicing bill soared by 64 percent to Rs4.219 trillion in the first half of the current fiscal year, wiping out the net revenue receipts of the federal government and forcing it to borrow more to finance its spending, official data showed.
SBP holds rate at 22pc as inflation stays high, sees easing from March
By Staff Reporter
KARACHI: The central bank kept its key interest rate unchanged for a fifth straight meeting on Monday, as it expects inflation to ease from March after staying elevated for months.